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80~" GG5275
<br />Utvmorus CovENew'rs. Borrower and Lender covenant and agree as follows:
<br />1, piXMaaft of 1Mac1pN trod hstercq. Borrower sfiall promptly pay when due the principal of and interest on the
<br />indebtetlaeas evidenced by the Note, prepayment and late charges as provided in the Note, and the principal of and interest
<br />oa any Futttrc Advtutces assured by this Mortgage.
<br />2. Fatal [or Tips sad Ianraatx. Subject to appiieabfe law or ro a written waiver by Lender, Borrower shall pay
<br />to Levder on the day monthly itstallments of principal and interest are payable under the Note, until the Nate is paid in fuB,
<br />a strm (herein "Fund,"j equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground renu on the Property, if any, plus onatwelfth of yearly premium installments for hazard insurance,
<br />phis one-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and from
<br />tuna to liras by Lender on the basis of assessments and bills and reasonable estimates [hereof.
<br />The Funds shall be held in an institution the dep~its nr accounts of which are insured or guaranteed by a Federal or
<br />stare aasncy (including Lender if Lender is such an institution 1. Lender shall apply the Funds to pay said taxes, assessments,
<br />insurance premiums and gcoutrd rants. Lender may not charge for so holding and apptying the Funds, analyzing said account,
<br />or verifying and compiling said asaesntnents and bills, unless Lender pays Borrower interest on the Funds and applicable law
<br />permits Leader to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that }ntercst on the Funds shall be paid to Borrower, and unless such agreement is made err applicable law
<br />requires such interest to be paid, Leruter shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without chugs, an annual accauniing of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit [o the Funds was made. The Funds are pledged as additional security for the sums secured
<br />by rftis Mortgage.
<br />if rise tuttoune of the Ftmds held by Lender, together with the future monthly installmevts of Funds payable prior to
<br />[he due dates of taxes, assessments, itrsurarrce premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />aaseaaments, insurance premiums and ground rents as they fall due, such excess shall be. a[ Borrower's option, either'
<br />promptly repaid io Borrow+er or credited to Borrower on monthly installments of Funds. if the amount of the Funds
<br />hdd by Lender shall not be stdficient to pay taxes, assessments. insurance premiums and ground rents as they fall due,
<br />Borrower sbali pay to Lender any amount necessary to make up the deftciency within 30 days from the date notice is mailed
<br />by Lander to Borrower requesting payment thereof.
<br />Upon paymem in fuB of all sums severed by this Mortgage. Lender shat} promptly refund to Borrower any Funds
<br />ht:~ by Lender. If under pazagnp6 18 hereof the Property rs sold or the Property is otherwise acgmrcd by Lender, under
<br />shag apply, tw later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds bald by
<br />Leader at the rime of application as a credit against the sums secured by this Aortgage.
<br />3. Appliealisa ei raymeaY. Unless applicable law provides otherwise, all payments received by Lender under the
<br />Note and paragtapfis } and Z hereof shall be applied 6y Lender frst +n payment of amounts payable to Lender by Borrower
<br />under parajraph Z hereof, then to interest payable on the Note, then to the principal of the Note, and then to interest and
<br />principal on any Furore Advances.
<br />i. C~ t3eat. Borrower shall pay all taxes, assessments and other charges. fines and impositions atinbutable to
<br />the Ptbperty which may attain a ¢ritxiry aver this Mortgage.. and leasehold payments or ground rents, if any, in the manner
<br />provided under puagnph 2 hereof err, if not paid in such manner, by Borrower makin¢ payment, whrn due, directly to the
<br />pays thtreof. Borrower shall promptly furnish to Lender all nouccs at amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly, Borrower shall prompdv furnish to Lender receipts evidencing such payments.
<br />Borrower shaft promptly diachazge any lieu which has pnortty over this Mortgage: provided. [hat Borrower shall not be
<br />required w dischat;e any such lien so long as Borrower shall agree to •w'ntmg is the payment oY the abligatian secured 6y
<br />suc6lien in atrtaoner acceptable to Lender. or shall in good faith contort such lien by, or defend enforcement of such lien in,
<br />Sego! proceedings which operate to prevent Ehe enforcement of the hen err farfeuure of the Properly err any part thereof.
<br />3. g(mrti Iaaanace- Borrower shall keep the +mprovements now existing err hereafter erected on zhe Property insured
<br />asaiaat loss by .Fire, hazards included within [he term "extended coverage', and such other hazards as Lender may require
<br />and in such amounts and for such periods i+s Lender may requite: provrdeti, that Lender shall not require that the amount of
<br />such coverage exceed drat amoua[ of coveragt required zo pay the sums secured by th>s Mortgage.
<br />The itnurance curler providing the insurrnce shall be chostn by Borrower subject is approva+ by Lender; provided.
<br />that such approval shall vat rte utrteasotiabiy withheld. All preavums an insurance policies shall ive paid in the manner
<br />provided lisle, parasraph Z hereof or. +f trot paid in such manner, by Borrower making payment when due, directly to the
<br />inauraatx carrier.
<br />All irsauraece policies sad renewals thereof shall be in fomt acceptable to Lender and shall [acfude a standard mortgage
<br />Ciattre in favor of sad in form acceptabk to Leader. Larder shah have the ngtt[ to hold the policies and renewals thereal,
<br />sad Borrower shall promptly faraish to i.entkr ail retxwai noric~s and ail receipts of pair premiums. In the event of lass:
<br />BOtrowu shall give prwnpr t[otfce to tht itis[uance carrier and Lertder. Lender may make proof of toss if not rrarde pr3mptty
<br />by Borrower.
<br />Udas Leader sad $nrrozrer alfierwise agree in writing, insurance pror^e~s shall ho applied to testoratiou er repair of
<br />the property damajed, provided such restorauan of repair as ecancvnn:ully feasible and the security of this Mortgage +s
<br />tkH thereby impaired- ff sucb restoration or repair iz no[ ecanomually feasible or +f the secur+ty of this Mortgage would
<br />be ispauxd. tba insurance proceeds shall be applied to the sums secured by tFns Mongage, with the excess. if any, paid
<br />tp Bartowsr, 13 the Property is abaadorted by 8arrowet, err if Borrower fads to respond to Lender withiv 30 days from the
<br />data antics is mailed by L.andtt m Barrowez the[ the iiuuzance carrier cffets to settle a claim fer insurance heoefiu, Lender
<br />is antborimtt io coliec'.t sad apple the aosutattoe proceeds at Cattle, 3 option either to restorauen err ,opal, of the Properly
<br />or to doe avrns secured by this Mortgage.
<br />Unias Lender artd Botrozrxr athetwise agrees rn wntttig, any stub application of }irviceeds to pr+aczpal shall nai extetxi
<br />r% pnatpope Ehe due date u# lira monthly installments refeered to in paragraphs t and 3 hereof or change the amount of
<br />stschinsttdiroants. if under para{raplt 8g hereof the Proputy [s acquired 6y Lender, all nght, rtle acrd interest of Borrower
<br />is atd.to any insurance paticies end in and za the proceeds thereof resulung tram damage ro the Property prior to the sale
<br />or acgtisitiao shag pass io Lender to the extevt of the sums severed try this 4lortgage immediately error w such sak or
<br />~, psaasrs'aiiaa alai MalYnartc of pwrerty; Leaseielir, Caedasaiaiams: Plaoaxd L'ait [kseiapmeats. Barrawer
<br />sbaB keep iha Prapatty in rood repair sad strati tort commit wawa err perm,[ ie[[pairurerzt or det<riarattan of rite Property
<br />apt ~~ Y wiifi the provisioaa ~ any Tease i?. this Mattga$e is av a itasehald. if this tiangagt: is au a unit in a
<br />ccradpgriniuas or a plattipd uwt deve}apnwrtt Bcrrawet shah perform all of $orrowoi s abhgatiaas under the declatuuan
<br />~ ~ Y,'t:aiirri ~l gozttii[u~ tfie otrnd<•`n'.sniiav s?-r piarza+<~d unit devclaprr[cni, rho by-laws and rogu}atians of thn
<br />ratodataioiura or piaaaed unit devdopmsnt and caasiiitter.t docurrxnts if a candaminium err planned unit deve}opntent
<br />rids,: is ettaGYrtell b!' Borrower and recorded tcrgsttwr wish this Atarigagc, tree cavenanu azrd ayreemtn[s of stn h r+rkr
<br />sha+11 ba~tstciarporamd into and shall arnerid and wpplemsnt [he Caveuants and agceematertts of thrs Mortgage a~> +f the nder
<br />welt a part itareo~,
<br />7, ltlsalasaina of lsaiias's Bacwl/y. if Barrowtr fsals to pu(c5tm t+ae caveuanu and agreententx ~•anta+ned to tln»
<br />.littrtta~ah or if aey actioA err pto~rresdtng is caaunaxteed vrhich materially afltuts Lendor's mtetsst in tits P•openi.
<br />iBClst$igj,. but itr54 lii~tOd to, c[e}ioeat dtrraain. iizsolvxrtcy, Cade enforct:imnt or arrargenzents err }xcrc:eeatmgs ~nralvsng a
<br />laarEkrup4 or deesdaaL„ than Lender at i.aader'a aptwn, upon notice. t~ Borzower, may make such appearances .itslsursi uch
<br />saaoit ani.taitt: atsc)t a;,lioct as. u necessary to etc=test lxnder's enzerret, +rnlud:rtg. iris} nai limned w, itcbursement rrf
<br />tytaiWtr+ihk attornayt's fees sad etttr) vp..~t the Prr>4werty to make reps+rs. it lender required nwrtgagc to>ur»ncc as .,
<br />z:eraditiem of tr~ttgl the trios xeursd by ihss Mongage., Borrawcr =fraI. }=av €he ptcmtums reyrurcJ r . matmaau s,+..h
<br />iaautatsce in e} uatii suzfi lima as the rsquiratasvt fist ,such rrrsuran.a '-erntinates to accordance weth Bog s<iwce •- ~n.f
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